What is Wrapped VEX (WVEX)?

Wrapped Ethereum, Wrapped Bitcoin, and Wrapped BNB are some of the popular wrapped coins. Then, Vexanium is also present in the wrapped coin line as Wrapped VEX (WVEX). Even though wrapped coins have emerged and are among the popular blockchains, not all traders and members of the crypto community fully understand what these coins have to offer them and from what ordinary coins they have in common.

Basically, wrapped coins are hosted currencies in the blockchain having the same price as their underlying assets. While WVEX is a 1:1 ratio crypto-base with a pegged VEX coin created through the vexwraptoken smart contract. In the other words, WVEX has the same value as VEX, so it can always trade Wrapped VEX with VEX coin. 

WVEX’s use is focused on the future use of Vexanium’s DeFi ecology. Like Wrapped BNB (WBNB) and Wrapped Ether (WETH), Wrapped VEX (WVEX) works the same way. The interoperability set serves to reduce errors and improve the peer-to-peer economy. The ER-20 token is also used as a traceable token on the blockchain and its use is becoming more and more common in the cryptocurrency world.

The ease of getting WVEX is by sending your VEX Coin first to the vexwraptoken smart contract. Then the smart contract will automatically request WVEX to be sent to your VEX address. After that, Swap VEX on a decentralized exchange (DEX) based on Vexanium such as: VexSwap, SaladSwap, ETC. Voila! It’s done!

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